BDSA analyzes key metrics such as equivalent average retail prices and legal cannabis sales to provide insights into the Missouri cannabis market. The report also includes data on consumer behavior and preferences, such as the popularity of flowers and other product categories.
In addition to the medical cannabis market, BDSA provides insights into the potential for recreational cannabis sales in Missouri. While recreational marijuana is not yet legal in the state, there is growing support for legalization, and BDSA provides valuable analysis for businesses and investors looking to enter this market.
Overall, BDSA’s insights into the Missouri cannabis market offer valuable information for those interested in the cannabis industry, including medical and adult use marijuana sales, product trends, and pricing.
MISSOURI JOINS THE RANKS OF LEGAL MIDWESTERN MARKETS
Missouri has joined the ranks of legal cannabis markets in the Midwest. The state legalized medical cannabis in 2018, with recreational adult-use sales now following suit.
The projected cannabis market in Missouri is expected to bring major profits for the state and local businesses. According to an analysis by Marijuana Business Daily, by 2024, the equivalent average retail prices for legal cannabis sales in Missouri should be around $190 million annually across both medical and adult-use markets.
Currently, only medical cannabis is available statewide at over 200 registered dispensaries. However, recreational marijuana sales have already begun in five locations throughout the state, with more planned for 2021.
Missouri’s cannabis dispensary industry is growing rapidly as it continues to open up opportunities for entrepreneurs. The number of SMBs participating in the medical industry has tripled since 2019, indicating that demand for cannabis products is high.
These entrepreneurs are driving innovation in this budding space and playing an important role in building out the social infrastructure needed to support a thriving legal cannabis market. As more locations open up throughout Missouri and other states nearby, the Midwest will become an increasingly attractive place to launch and invest in legal cannabis companies and explore what else can be offered from these new recreational sales opportunities.
What is the projected cannabis market in Missouri?
Missouri is quickly becoming a major player in the legal cannabis market, with significant growth expected in the coming years. In January of 2022, the state launched its medical cannabis program, allowing licensed dispensaries to sell medical marijuana to patients with qualifying conditions.
According to BDSA, a cannabis industry analytics firm, Missouri’s medical cannabis market is expected to generate $240 million in sales in 2022 alone, with continued growth in the years to come. Additionally, BDSA forecasts that Missouri’s adult use cannabis market could reach $410 million in annual sales by 2025.
The projected cannabis market in Missouri is being driven by a number of factors, including the state’s large population, growing acceptance of cannabis for medical and adult use, and a desire for alternative health and wellness options.
While the legal cannabis industry is still in its early stages in Missouri, the state is already making strides in terms of sales and growth. The equivalent average retail and wholesale prices for cannabis products are expected to remain competitive, which will help drive continued growth in legal cannabis sales in Missouri.
Overall, the projected cannabis market in Missouri is bright, with significant opportunities for growth and expansion in the medical and adult use cannabis sectors. As more consumers become aware of the health benefits of cannabis and the industry continues to evolve, Missouri is poised to become a major player in the legal cannabis market.
Global Missouri Medical Cannabis Market Segmentation
The medical cannabis market in Missouri is growing rapidly, with significant opportunities for businesses and investors looking to enter the industry. According to industry experts, the projected cannabis market in Missouri is expected to reach $650 million in legal sales by 2025, with the medical cannabis market playing a significant role in this growth.
The Missouri medical cannabis market is expected to generate $240 million in sales in 2022 alone, with continued growth expected in the coming years. This growth is being driven by a number of factors, including the increasing acceptance of cannabis for medical use, the desire for alternative health and wellness options, and a growing senior population.
The Missouri medical cannabis market is also being segmented into various categories, including different types and brands of medical cannabis products and services. This includes products such as oils, capsules, tinctures, and other medical cannabis products, as well as services like senior care and specialized medical cannabis clinics.
In addition to the medical cannabis market, there is also significant potential for sales growth in the adult use cannabis market in Missouri. While adult use sales are not yet legal in the state, there is growing support for legalization, which could lead to significant revenue growth in the coming years.
As the Missouri cannabis market continues to grow and evolve, businesses and investors are increasingly looking to other markets to get involved in the industry. This includes everything from cultivation and manufacturing to retail and distribution, with opportunities for businesses of all sizes to enter the cannabis industry.
Overall, the Missouri medical cannabis market is set for significant growth in the coming years, with a range of opportunities for businesses and investors looking to get involved in the cannabis industry. With the potential for both both medical sales and adult use sales, as well as continued sales growth, the Missouri cannabis market is an attractive option for those looking to enter the cannabis business.